Home prices in the U.S. have been soaring since the pandemic began and show no signs of slowing down, leaving everyday Americans increasingly priced out of the housing market – and many would-be buyers gave up on finding an affordable place years ago.
The average home price is up 47.1% since 2020, with the median sale price recently hitting $394,000 according to the latest data from Redfin. Meanwhile, high interest rates and insurance costs are making the affordability crisis worse, pushing the cost of buying a home to a fresh record.
It wasn’t long ago that it was common for potential homebuyers to find a house priced at $200,000, but that has become much more difficult.
According to Realtor.com, over the past several years, the share of homes sold under that price point has gone from roughly half of all sales to less than a quarter of sales in 2023.
With that in mind, the real estate agency conducted a study to find where the most affordable homes still remain – at least for now.
Here are the cities in the U.S. with the most homes available for under $200,000, according to Realtor.com.
Read more here from Fox Business.
